Virginia United Methodist Pensions, Inc. 10330 Staples Mill Road PO Box 5606 Glen Allen, Virginia 23058 Phone: 804-521-1100 Fax: 804-521-1177 TO: All District Superintendents FROM: Nancy Blair DATE: August 6, 2014 SUBJECT: 2015 CRSP/CPP CALCULATIONS Enclosed you will find a calculator showing the 2015 CRSP/CPP billing calculations, which are based on the billing methodologies approved at this year’s Annual Conference. For the CRSP (Clergy Retirement Security Program), the billing calculation is the sum of the following two components:  3% of total plan compensation for the defined contribution CRSP benefit, plus  9% of the lesser of the two following amounts for the defined benefit CRSP benefit: o o total plan compensation, or 135% of the 2015 Denominational Average Compensation (“DAC”) Billing for the CPP (Comprehensive Protection Plan) will be 4.4% of total plan compensation for most full time pastors, with total plan compensation capped at 200% of the DAC. Note: Total Plan Compensation for computing pension is based on cash/base salary, excluding Accountable Reimbursement or travel, plus parsonage factor or housing allowance. The parsonage factor for 2015 is 25%. In the case of a full time pastor with total compensation below the floor of $39,755, the church is billed 3.4% of the DAC, or $187.73 per month. Similarly, in the case of part time Elders, Deacons and Provisionals who are appointed 50% or 75%, the church is billed $187.73 per month for CPP. Each individual clergy should be enrolled with the General Board of Pension through the Virginia United Methodist Pensions, Inc. (“VUMPI”) office. VUMPI will bill each pastor’s church or salary paying unit each month for CRSP/CPP payments. The following is provided for general information: 2015 DAC: $66,259 2015 CAC: $62,508 2015 “Floor” for CPP: $31,804 (with parsonage), or $39,755 (without parsonage) The Minimum Compensation Schedule for 2015 is as follows: Elder, Full Connection Provisional & Associate Local Pastors $40,000 $36,500 $34,000 2015 Death Benefit for active and eligible retired clergy enrolled in CPP and Supplemental Death Benefit: Active clergy $75,000 Eligible clergy retired prior to 1-1-2013: 30% of DAC plus $5,000 Conference Supplement Eligible clergy retired 1-1-2013 or after: $25,000 WWW.VAUMC.ORG